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Questions and Answers
True or false: Risk management can help to improve operational efficiency.
True or false: Risk management can help to improve operational efficiency.
True (A)
True or false: Risk management practices have no effect on problem avoidance.
True or false: Risk management practices have no effect on problem avoidance.
False (B)
True or false: Risk management is a systematic process that is used to manage risks.
True or false: Risk management is a systematic process that is used to manage risks.
True (A)
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Study Notes
- Risk management is the systematic process of assessing and managing the risks associated with a project or operation.
- Risk management helps to avoid problems and increase efficiency during operation.
- Risk management can identify the risk that could affect the operating efficiency.
- Risk management can prevent problems from happening in the first place.
- There is a statistically significant relationship between risk management practices and problem avoidance.
- Risk management practices have an impact on operational efficiency.
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